What Have Physician Practices Spent on the ICD-10 Conversion Thus Far?

Several organizations have criticized the ICD-10, citing the possibility of wasted resources and time. How much have physician practices spent on their conversion plans thus far? Here are four statistics from a Part B News white paper, according to a Medical Economics report.

Advertisement

•    Solo practices spent an average of $7,719 thus far
•    75 percent of solo practices spent less than $5,000 thus far
•    Practices with more than 100 physicians spent an average of $45,592 thus far
•    71 percent of practices with more than 100 physicians spent more than $50,000 thus far

More Articles on Coding and Billing:
AHIP Joins Coalition for ICD-10
Coding Tip: Urogynecological Procedures
ICD-10 Will Provide Better Data for Healthcare Analytics

At the Becker’s 32nd Annual Meeting: The Business and Operations of ASCs, taking place October 29-31 in Chicago, ASC leaders, surgeons and healthcare executives will explore strategies to drive growth, enhance operational performance, navigate reimbursement challenges and prepare for the future of ambulatory surgery. Apply for complimentary registration now.

Register to Attend Webinar

Is ambulatory care healthcare’s big margin engine? 4 leaders weigh in

Wednesday, July 29
1:00 PM - 2:00 PM CDT

Presenters: Joe Ganley, athenahealthJeffrey Flynn, CASC, Gramercy Surgery CenterBryan Tsao, Access Center, Loma Linda University HealthJason Zepeda, Northridge Hospital Medical Center, CommonSpirit HealthGreg DeConciliis, PA-C, CASC, Boston Out­Patient Surgical Suites

Advertisement

Next Up in ASC Coding, Billing & Collections

Advertisement

Comments are closed.